Martha's Vineyard Properties - Commercial - Residential - Vacation Rentals & Sales
  • MV Rentals (& Sales Too) - Home Page
  • Edgartown Downtown BEST BLOCK 2000 sf 53 Main Street
  • EDGARTOWN Main St @ S Water St 2000 sf +/- Store Avail for 2021 Season
  • Edgartown Downtown Store with 2 Bdrm APT Available NOW
  • Former Bunch of Grapes location - Premier Vineyard Haven Spot
  • FOR RENT: 334 sf Store Space - 30 Main Street Vineyard Haven Available NOW
  • FOR RENT: 750 SF - 43 Main Street Vineyard Haven Commercial Avail 3/1/2021
  • 40 Main Street Edgartown - former Wine Shop
  • Downtown Edgartown 850+/- sf at 11 N. Summer Street
  • The Iconic CAPAWOCK THEATER Main St. Vineyard Haven Available
  • FOR RENT: Private Office 525 sf in downtown Vineyard Haven 38 Main St 2R
  • 1 Bedroom Apt Vineyard Haven Downtown - Start 11/1/21
  • Vineyard Haven 3 Bedroom Apt Downtown - Available 11/1/21
  • Rented to March 2023 - Restaurant or Retail? - 38 Main Street Tisbury
  • West Tisbury Two Bedroom Cottage YEAR ROUND start 11/'21
  • AVAILABLE MARCH 2025 - 2000+/- SF - Main Street Vineyard Haven Commercial
  • RENTAL: Edgartown WATERVIEW 2 Bedroom Cottage
  • For Sale: Lots at Anthiers and Weeks Lane Edgartown
  • LEASED - Large Edgartown Space - 47 Main Street
  • Available March 2024 - 1000 SF Edgartown Downtown - 43 Main
  • Sorry Rented: 1000 SF 30 Main St Vineyard Haven Downtown - Available
  • TEMP PULLED FROM MARKET - FOR SALE 4 Acre Farm Frontage in Tisbury / W Tisbury

RARE OPPORTUNITY NOW! 
GROUND LEASE OF FORMER WINE SHOP SPACE at 
40 MAIN STREET IN DOWNTOWN EDGARTOWN!

Looking for Ground Lease Tenant to Perform Re-Build! Currently 950 SF MAIN STREET DOWNTOWN EDGARTOWN - Owner seeks TENANT to rebuild and add additional 134 +/- sf to retail area and 1050 +/- sf of second floor stock area with an additional 500-600 sf +/- of third floor with roof deck with possible view of Edgartown Harbor. .

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This former wine and gourmet shop and full line package store location is available for ground lease with the tenant expected to rebuild in return for a long term lease - refrigeration is still available should one desire to use it. This 40 Main Street space is situated along the most desirable block for retail on Martha's Vineyard (and arguably on the Cape as well) and contains 950 +/- sf. The permits for reconstruction the Tenant will be seeking call for a ground floor expansion of another 134 +/- sf, plus upper story for stock space of 1050 +/- sf  with an additional 500-600 sf +/- of third floor with roof deck with possible view of Edgartown Harbor. The Tenant's obligations are to construct to code a such a building in "vanilla box" with working bathroom, HVAC and 400 amp electrical service and layout for retail and ample plumbing runs to designated locations throughout with adequate bathroom plumbing to allow for future use as a restaurant, within certain minimum specifications in return for a long term ground lease. 

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ASKING $36,000.00 ANNUAL GROUND BASE RENT* + ADDITIONAL RENTS = QUADRUPLE NET

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After rebuild as a multistory structure, the market value of the base rent would be $135,000.00 plus utilities and additional rents include taxes, insurance, water, sewer, and maintenance and repairs. That leaves $99,000.00 per year for amortization of the construction costs, which would clearly leave a significant profit on the table each year for the Tenant Builder. That profit represents a significant discount to base rent and enables one to get onto Main Street in Edgartown for what we estimate to be a 25% discount through the term. The term can be adjusted to accommodate the time needed to reasonably amortize building construction costs. Call 508-627-5900 or email 40MainSt@marthasvineyardrentals.net
* depending on length of lease, base rent will increase over time

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